Novartis Acquires Avidity Biosciences in $12 Billion RNA Therapeutics Deal

Novartis AG has agreed to acquire Avidity Biosciences Inc. in an all-cash transaction valued at approximately $12 billion, marking a significant expansion into RNA-based therapeutics. The deal offers Avidity shareholders $72 per share—a 46.5% premium over Friday's closing price—and includes the spin-off of Avidity's early-stage cardiology programs into a separate entity.

The acquisition grants Novartis access to three late-stage treatments for neuromuscular diseases using Avidity's proprietary Antibody Oligonucleotide Conjugates (AOCs). This MOVE underscores the pharmaceutical industry's accelerating interest in RNA platforms, mirroring the broader biotech market's pivot toward genetic medicine.

Shares of Avidity surged over 40% on the announcement, with peer company Dyne Therapeutics also rallying on sector optimism. The transaction highlights Novartis' strategic shift toward high-impact specialty therapies amid declining revenues from legacy drugs.